Rocket Lab Stock Surges Nearly 11% Amid Space Innovation Success

LONG BEACH, California — Rocket Lab‘s stock jumped nearly 11% on Monday, continuing a strong upward trend driven by advances in space technology.

The aerospace company has seen its shares nearly double over the past two months, following a series of successful satellite launches and a partnership with the European Union. Year to date, Rocket Lab’s stock has risen 63%, having surged nearly sixfold in 2024. In just the last month, the stock has skyrocketed by nearly 70%.

Last month, Rocket Lab secured a contract with the European Space Agency to launch satellites for a navigation constellation before the year ends. The company also made headlines with the successful launches of its Electron and Photon rockets in June, executing two launches within just 48 hours from the same location.

CEO Peter Beck, who founded Rocket Lab in 2006, spoke about the increasing demand for their services. “For Electron, our little rocket, we’ve seen increased demand over the last couple of years and we’re not just launching single spacecraft — these are generally entire constellations for customers,” Beck told CNBC. He added that Rocket Lab is now producing a rocket every 15 days.

Operating in a competitive landscape, Rocket Lab faces rivals like Elon Musk‘s SpaceX and others entering the market, including one company that recently filed its prospectus to go public. Since its introduction on the Nasdaq through a merger with a special purpose acquisition company, Rocket Lab’s market value has surged to over $19 billion.